DAILY: China's rebar prices, sales rebound as sentiment improves

China's spot rebar prices posted mild rebounds on July 8, as market sentiment improved with the broad strengthening of ferrous futures. The buoyant sentiment also boosted spot trading activities for construction steel items on the same day.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,289/tonne ($484/t) including the 13% VAT on Wednesday, up by Yuan 6/t on day after a one-day decline on Tuesday. The semi-finished steel market gained momentum as well. The price of Q235 150mm square billet in Tangshan in North China's Hebei province